Shopping Center with Grocery
New
For Sale
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6409-6501 N Cosby Ave, Kansas City, MO 64151
Multi-tenant retail property with grocery-store shadow anchors and established occupancy.
Property Size124,878 SF
Price / SF$120.12
Days on Market4
Property Features for 6409-6501 N Cosby Ave
General Information
Standard status
Active
Size
124,878 SF
Property subtype
RETAIL
Occupancy
85%
Site & Location
Anchor Co-Tenants
Hy-Vee, Aldi
Traffic Count
59,000 vehicles/day
Listing Agency:
NAI Heartland | Kansas City
(913) 362-1000
Listed By:
Brandon LaSala · License #1999131927
(913) 956-5815
Source:
Moodyscre
Added: Sep 8
Changed: Sep 10
Last Checked: Sep 10 at 1:05PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NAI Heartland | Kansas City
Investment Insights
Based on property information with market context.
This 124,878-square-foot shopping center at 6409–6501 N Cosby Ave in Kansas City, Missouri, is 85% occupied and includes a tenant mix described as focused on internet-resistant industries. The property offers an established retail configuration with existing occupancy and available leasing or renewal activity.
The center is visible to nearly 59,000 vehicles per day on 64th Street and is shadow anchored by Hy-Vee and Aldi grocery stores. More than 130,000 people live within a 5-mile radius, while the surrounding area includes logistics centers, new housing communities, and additional retail development.
The center is visible to nearly 59,000 vehicles per day on 64th Street and is shadow anchored by Hy-Vee and Aldi grocery stores. More than 130,000 people live within a 5-mile radius, while the surrounding area includes logistics centers, new housing communities, and additional retail development.
Key Highlights
- 124,878‑square‑foot shopping center at 6409–6501 N Cosby Ave
- 85% occupancy with existing retail tenant mix
- Visible to nearly 59,000 vehicles per day on 64th Street
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$1,174,527
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.83%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$23,490,540
$23.5M
Cap Rate 7%
$16,778,957
$16.8M
Cap Rate 9%
$13,050,300
$13.1M
Market Conditions
NOI Build-Up for 124,878 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$1.75M $14.04/SF
− Vacancy
−$75.4K −$0.60/SF
EGI
$1.68M $13.44/SF
− OpEx
−$503.4K −$4.03/SF
NOI
$1.17M $9.41/SF
Area
Kansas City, MO
Vacancy
4.30%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$23,490,540
Cap Rate 7%
$16,778,957
Cap Rate 9%
$13,050,300
Alternative Uses
Best Use
Retail
$16.78M
$14.68M – $19.58M
NOI $1,174,527 @ 7.0% cap · market cap 7.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$29.74M
$26.03M – $34.70M
NOI $2,082,126 @ 7.0% cap · market cap 13.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
59,000 VPD
Traffic count
85%
Occupancy
Location Intelligence
Trade Area within ½ mile
671
Businesses Nearby
263k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 40%
Groceries 38%
Shops & Services 18%
Beauty & Spa 4%
Hy-Vee
Groceries
65,079 visits/mo
0.3 miles
McDonald's
Dining
32,023 visits/mo
0.3 miles
Aldi
Groceries
20,355 visits/mo
0.3 miles
Culver's
Dining
19,733 visits/mo
0.2 miles
Dollar Tree
Shops & Services
17,756 visits/mo
0.1 miles
Demographics for 64151, MO
28,779
Population
12,452
Households
2.3
Avg Household Size
38
Median Age
42%
College-Educated
97%
High-School Grad
13.1 sq mi
ZIP Area
2,197
Density / Sq Mi
$91,348
Median Household Income
$50,069
Median Earnings
$1,333
Median Rent
$292,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Kansas City, MO
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Similar Off Market Nearby
- Village at Burlington Creek — 6050 NW 63rd Terrace, Kansas City, MO 64151
Frequently Asked Questions
What type of property is this?
Shopping center - Multi-tenant retail property with grocery-store shadow anchors and established occupancy.
Where is this shopping center located?
The property is located at 6409-6501 N Cosby Ave Kansas City, MO.
What is the asking price?
The asking price for this property is $15,000,000.
What are key features of this property?
This property features: 124,878‑square‑foot shopping center at 6409–6501 N Cosby Ave; 85% occupancy with existing retail tenant mix; Visible to nearly 59,000 vehicles per day on 64th Street
